Soft Magnetic Material Market Size, Demand, and Future Outlook: Global Industry Trends



" A winning Soft Magnetic Material Market report is an established source of information that presents with a telescopic view of the current market trends, situations, opportunities and status. This report helps clients recognize new opportunities and most important customers for their business growth and increased revenue. Moreover, the trends in consumer and supply chain dynamics are also recognized and then accordingly strategies about marketing, promotion and sales are interpreted for an extreme success. The report gives details about the top players and brands that are driving the market. The current market scenario and future prospects of the sector have also been examined in the comprehensive Soft Magnetic Material Marketing report.

Simplicity maintained in research method and application of best tools and techniques makes Soft Magnetic Material Market research report an exceptional. This market report provides an ideal window to the industry which explains what market definition, classifications, applications, engagements and market trends are. The report also gives description about the complete market analysis with inputs from industry experts. A market research analysis and estimations carried out in the credible Soft Magnetic Material Market report aids businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to be followed for outdoing the rivals.

Data Bridge Market Research analyses that the soft magnetic material market is expected to undergo a CAGR of 9.30% during the forecast period. This indicates that the market value, which was USD 61.76 billion million in 2021, would rocket up to USD 125.80 billion by 2029.

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Soft Magnetic Material Market Scope and Segmentation

REPORT METRIC



DETAILS




Forecast Period



2022 to 2029




Base Year



2021




Historic Years



2020 (Customizable to 2019 - 2014)




Quantitative Units



Revenue in USD Billion, Volumes in Units, Pricing in USD




Segments Covered



Material Type (Soft Magnetic Composites (SMC), Electrical Steel, Soft Ferrite, Cobalt, Others), Application (Motors, Transformers, Alternators, Others), End User  (Automotive,  Electronics and Telecommunications, Electrical, Others)




Countries Covered



U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America




Market Players Covered



SG Technologies (U.K.), VACUUMSCHMELZE GmbH & Co. KG (Germany), Steward Advanced Materials LLC. (U.K.), MATE CO., LTD (Germany), KN Powder Metallurgy (Germany), Hitachi Metals, Ltd (Japan), Sintex (Denmark),  Toshiba Materials Co Ltd, (Japan) AMES (Spain), Daido Steel (Japan), Fluxtrol Inc, (U.S.), FJ Industries A/S (Denmark), Arnold Magnetic Technologies (U.S.), voestalpine High Performance Metals GmbH (Austria), BMW AG (Germany), FCA US LLC (U.S.)




Market Opportunities


Growth and expansion of automotive industry
Increase focus towards expansion
Rising research and development opportunities
Increase in investments by major market players
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Market Definition

Soft magnetic materials are those materials which are easily magnetised and demagnetised. They usually have less than 1000 Am-1 intrinsic coercivity. They are mainly used to increase the flux which has produced by an electric current. The traditional soft magnetic materials such as Si-steel, soft ferrite and electronic iron, have been used for more than or almost one centenary. Even the most recent soft magnetic materials are nanocrystalline and amorphous alloys.

Soft Magnetic Material Market Dynamics

Drivers

Increasing  demand of electric motors

Electric motor segments cover the largest revenue share of the overall market. Electric motors find many applications in numerous end-use industries included, electric vehicles, electric transmission, consumer electronics and medical equipment. In the manufacturing of medical devices and equipment such as hemodialysis machines, high-quality pumps, infusion pumps, compressors, respirators, centrifuges, scanners, and others used electric motors. The rising demand of electric motor in medical devices and many other equipment’s are expected to increase the demand of soft magnetic material and drive the market growth rate.

Rising demand of soft  magnetic material in automotive sector

The demand of soft magnetic material increases in automotive sector. During the forecast period, the automotive sector is projected to be the fastest-growing and largest end-user industry in the soft magnetic materials market. The major automotive applications include motors, compressors, anti-lock brake systems, fuel injectors and other rotating devices, which are expected to drive the market's growth rate.

Government initiatives for increasing the power generation capacity

The government has started some initiatives such as IPDS, DDUGJY and progressive measures for increasing the power generation capacity and improving distribution which is further projected to increase motors demand and ultimately increase the demand of soft magnetic materials in the forecast period of 2022-2029.

Opportunities

Increase focus towards expansion

The major companies are generally shifting their focus towards developing new and innovative products and growing their production capacities into the soft magnetic material market to attain a competitive advantage. The development of nano-structured soft magnetic material is expected to come up with new applications which will create immense opportunities in soft magnetic material market.

Increase in investments by major market players

The growing investments by major market players further offer the numerous growth opportunities within the market. For instance, Hydro-Québec declared an investment in July 2019 for securing the growth of Dana TM4 in the electric powertrain industry. Dana TM4 is a joint venture company which has focussed on manufacturing and designing electric motors.




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What insights readers can gather from the Soft Magnetic Material Market report?

Learn the behavior pattern of every Global Soft Magnetic Material Market -product launches, expansions, collaborations and acquisitions in the market currently.
Examine and study the progress outlook of the global Soft Magnetic Material Market landscape, which includes, revenue, production & consumption and historical & forecast.
Understand important drivers, restraints, opportunities and trends (DROT Analysis).
Important trends, such as carbon footprint, R&D developments, prototype technologies, and globalization.

Why choose Data Bridge Market Research?

Modern technologies, such as artificial intelligence, to provide updated industry growth.
DBMR team provides clients with the top notch Soft Magnetic Material Market research report.
Interaction with research scientists and development heads to understand the nature of the Soft Magnetic Material Market more precisely.
24/7 availability of services.
Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.

DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Soft Magnetic Material Market size

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